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Kimberly Landry, associate research director, workplace benefits research, LIMRA and LOMA, discusses the need for greater awareness and education around disability insurance, and how insurers can help protect consumers from unexpected income loss.
Keith Golembiewski, assistant vice president and head of LIMRA research, said that strong interest rates, market performance and growing awareness among plan sponsors fueled a record-breaking year for pension risk transfer deals.
Bryan Hodgens, head of research, LIMRA, discusses how economic pressures, remote work trends, and rising employer expectations are transforming benefits brokers into data-driven, consultative partners.
Mike Allee, president, Universal Conversion Technologies, discusses a recent joint report by LIMRA, Equisoft and UCT showing that 66% of U.S. life insurers and 46% globally are not prepared for AI implementation.
Bryan Hodgens, senior vice president and head of research at LIMRA, explores the sector's increasing priority on growth, with a focus on closing the protection gap that affects more than 100 million Americans.
About Julie Graham: Julie Graham has been with NFP since 2001, leading the Provider Benchmarking and RFP department. With over 25 years of experience, she helps plan sponsors reduce costs, enhance services, and optimize investments for 401(k), 403(b), and other retirement plans. A graduate of Oklahoma State University with a BS in Business Administration, Julie also holds a Master's in Organizational Leadership from Huntington University and is a registered investment advisor representative. She serves on NFP's Diversity & Inclusion Advisory Board and the boards of two non-profits. In her free time, Julie enjoys traveling Europe and hiking in Austin, TX.About Kameron Jones: Kameron is the Senior Vice President and National Growth Leader for NFP's Wealth and Retirement division, overseeing service innovation, client acquisition, and retention nationwide. With extensive ERISA, financial education, and employee benefits expertise, he helps clients protect fiduciaries, attract talent, and provide financial guidance to employees. Kameron has supported hundreds of mid- to large-market retirement and benefit plans, optimizing employers' strategies. A multiple-time NAPA Top Advisor Under 40, he has taught at UCLA, USC, and UC Irvine as an adjunct lecturer. Kameron also serves on LIMRA's Retirement Plan Advisory Board and holds a BA in philosophy, politics, and economics from the University of Pennsylvania, where he played football.In this episode, Eric, Julie Graham, and Kameron Jones discuss:Setting clear expectations and following a prudent process How live bids differ from blind bids Plan pricing philosophy Factors to consider in structuring a fee Key Takeaways:Engage all stakeholders early, setting clear expectations and timelines. Make decisions with employees' best interests in mind, follow a prudent process, document thoroughly, and avoid conflicts of interest.Conduct live bid RFPs every 3-5 years, sharing full plan details to maximize pricing leverage. Blind bids lack negotiation leverage, leading to less competitive pricing.Plan pricing should match the committee's fairness standards, considering plan size and demographics. Major record keepers sometimes offer blended fees based on account balances.Consider revenue sharing, flat fees, asset-based pricing, ERISA budgets, and DOL guidance for fair fee structures. Leverage economies of scale, negotiate competitive fees, and ensure investment quality through a thorough evaluation.“I think the best practice is to do live bids because when you compare against averages, you don't really have negotiation leverage. When you get live bids, your goal within gathering those is to maximize your negotiation leverage so you can go back to your current provider if you're happy with the services, and negotiate lower fees or enhanced services.” - Kameron JonesConnect with Julie Graham:Email: julie.graham@nfp.com Connect with Kameron Jones:Email: kameron.jones@nfp.com Connect with Eric Dyson: Website: https://90northllc.com/Phone: 940-248-4800Email: contact@90northllc.com LinkedIn: https://www.linkedin.com/in/401kguy/ The information and content of this podcast is general in nature and is provided solely for educational and informational purposes. It is believed to be accurate and reliable as of the posting date but may be subject to changeIt is not intended to provide a specific recommendation for any type of product or service discussed in this presentation or to provide any warranties, investment advice, financial advice, tax, plan design or legal advice (unless otherwise specifically indicated). Please consult your own independent advisor as to any investment, tax, or legal statements made.The specific facts and circumstances of all qualified plans can vary and the information contained in this podcast may or may not apply to your individual circumstances or to your plan or client plan-specific circumstances.
Bryan Hodgens, senior vice president and head of research, LIMRA and LOMA, said annuity sales surged 19% to $215.2 billion, with fixed index and registered index-linked annuities setting new records, according to LIMRA's U.S. annuity sales survey.
Kellie Benson-Bray, member relations director of workplace benefits, LIMRA, discussed how U.S. workplace benefits sales results were mixed in 2024's first quarter, and how demand for broader benefits packages are expected to grow in the next several years.
Are you trying to decide which type of life insurance to buy? You want to protect your family in case something happens, so how do you do it best? Whole life insurance is often rejected as expensive and a poor "investment," while mainstream opinion leans in favor of the "buy term and invest the difference" strategy, which involves opting for cheap insurance coverage and investing the dollars you save. https://www.youtube.com/live/QDyfZjPaMgc We'll guide you through the compelling story behind the "Buy Term and Invest the Difference" strategy, a concept born from Art Williams' personal experiences in the late 1960s. By examining the benefits and pitfalls of this popular approach, we empower you to make informed decisions tailored to your unique financial goals and risk tolerance. Explore the vital distinctions between whole life and term life insurance, and learn why a one-size-fits-all solution may not serve your best interests. Through relatable analogies and real-life examples, we break down the often misunderstood aspects of life insurance, helping you see the bigger picture. We also address the psychological and financial barriers that many face when considering life insurance, sharing insights from LIMRA and Dr. Wade Pfau on how whole life insurance can provide a stable safety net during economic downturns. Finally, we delve into the concept of becoming your own banker, illustrating how this alternative perspective can offer unparalleled financial flexibility and security. By understanding the sequence of returns risk and leveraging whole life insurance loans during market downturns, you can protect your investment portfolio and ensure long-term financial stability. Join us for an episode packed with actionable insights and strategies to enhance your financial planning journey. The Myth of “Buy Term and Invest the Difference”Breaking Down Insurance, Investments, and MoreCommon Pitfalls of Investing the DifferenceIs Term Insurance Actually Cheaper?Who is Buy Term and Invest the Difference For?Book A Strategy Call The Myth of “Buy Term and Invest the Difference” The idea of “buy term and invest the difference” is really common in the financial sphere, because on the surface it seems to make a lot of practical sense. After all, you're being told “buy cheap insurance to get the protection, then build your wealth in investments.” The problem is that this strategy doesn't work with certain goals. There isn't a singular, perfect insurance strategy to trump all else. There are myriad ways to get coverage, depending on what you want out of your dollars. Many people believe that Art Williams is the origin of this phrase; after his father passed, the whole life insurance death benefit didn't seem as large as what a term insurance policy could have been, and for less money. He felt strongly that his father had been sold the “wrong” policy, and so his life's mission became to get rid of whole life insurance. Curiously, he partnered with a mutual company, and the phrase “buy term, invest the difference” was born. Breaking Down Insurance, Investments, and More So what are the elements of “buy term and invest the difference”? It may sound like there are two things at play here, but really there are many factors to consider. While of course there's term insurance and stocks (or other investments, technically), you have to ask what that strategy is being compared to. And what that's being compared to is whole life insurance. Whole life insurance is insurance that is with you for your whole life, and if done with IBC in mind, can also be used as a warehouse for your wealth. Whole life insurance is guaranteed to pay out no matter what age you die, and if you live to the “end” of the policy (called endowment), the death benefit gets paid directly to you. This is permanent insurance in the truest sense. Comparatively, term insurance is insurance that you only have for a portion of your life.
The life insurance industry in the United States is large and growing. According to LIMRA, US life insurance premiums set a new record in 2023 with over $15 billion in new annualized premium sales. Only $3 billion of the total represents term life insurance which means 80% of the new premiums were generated from non-term policies. When insurance agents endorse the investment characteristics of life insurance, they are referring to permanent insurance which is a blend of insurance and investments. In this month's podcast, we discuss how the investment component of permanent life insurance works and how it generally performs compared to other investment options. If you are interested in learning more about how the investment component of permanent life insurance stacks up against other investment options, we think you'll enjoy this episode. Thanks for listening! For more details on permanent insurance, check out our blog post covering the same topic at https://pw-wm.com/learn/investing/is-life-insurance-a-good-investment/
#BRNAM #1678 | Staying Ahead of the Curve:Meeting the Threat of Fraud in the Financial & Retirement Services Industries Head On | Tim Rouse, Executive Director, The Spark Institute, Russell Anderson, CFE, Head of Financial Crimes Services, LIMRA & Pat Kinsel, Founder & CEO, Proof | #Tunein: broadcastretirementnetwork.com #JustTheFacts | For more information visit https://www.sparkinstitute.org
Bill Hodgins, head of research, LIMRA, explains what's driving fixed rate deferred annuity sales, which rose to $165 billion in 2023 after a record-setting session the prior year and more than tripling 2021's mark.
In this episode, Chris and Mike unpack the numbers from the 2023 LIMRA report on individual D.I.
“208 - Improving the #AnnuityUX in 2024 With David Hanzlik" Summary In this episode, Paul Tyler, Ramsey Smith, and Dave Hanzlik discuss the annuity industry and the changes that occurred in 2023. They talk about the rebranding of TruStage, the growth in annuity sales driven by the rate environment, and the success of fixed annuities and fixed indexed annuities. They also explore the potential for growth in niche markets, such as deferred income annuities, and the role of registered index-linked annuities (RILAs) in the industry. The conversation highlights the importance of making annuity sales easier for advisors and the potential impact of AI in the industry. The episode concludes with final thoughts and tips for annuity sales professionals. Takeaways The annuity industry experienced significant changes in 2023, including rebranding and growth in sales driven by the rate environment. Fixed annuities and fixed indexed annuities performed well in 2023, with advisors recognizing the value of the guarantees they provide. There is potential for growth in niche markets, such as deferred income annuities and registered index-linked annuities (RILAs). Making annuity sales easier for advisors and improving the ease of use of annuity products should be a focus for the industry. AI has the potential to play a role in improving operational processes and making the industry more efficient. Chapters 00:00 Introduction and Welcome 00:30 Recapping the Holiday Season 01:44 Changes and Rebranding in 2023 03:24 Annuity Sales in 2023 07:27 Growth in Niche Markets 08:08 Renewed Interest in Annuities 09:37 Behavioral Finance and Market Ups and Downs 11:08 Deferred Income Annuities and Income Solutions 12:04 The Role of RILAs in the Annuity Market 13:41 White Space in the Annuity Business 16:33 Expanding the Target Audience for RILAs 20:01 Making Annuity Sales Easier for Advisors 22:29 New Year's Resolutions for the Industry 25:15 The Role of AI in the Industry 27:06 Retire Tech Innovation Event 28:29 Final Thoughts and Advice 30:32 Closing Remarks Paul Tyler (00:01) Hi, this is Paul Tyler and welcome to another episode of That Annuity Show. Ramsey, good morning. Ramsey Smith (00:08) Good morning to you. Great to be here as always. Good morning to you. Paul Tyler (00:11) It is, and we've got a great guest, a returning guest, Mr. Dave Hanzlik Vice President, Annuity and Retirement Solutions at TruStage, formerly known as CUNA Mutual Group. Dave, welcome back. Dave Hanzlik (00:25) Hey, thanks guys. It's great to be back. How was your holiday? Paul Tyler (00:30) You know, it was too short, too short. And I'm paying for it now, paying for it now as we get ready for our upcoming sales conference here that I'm looking forward to. Ramsey, yours. Dave Hanzlik (00:34) Yeah. Ramsey Smith (00:44) Good holiday. We actually spent some time in New York, which is sort of our historic home, which is fantastic. During the Christmas season, it was so, so busy. Frankly, it's great to see what looks like a really great strong recovery for the city over the course of the last year or so. So it's just great to see that kind of energy in the city. So it was fantastic. And other than that, college applications. So busy. Paul Tyler (01:09) I don't know. Judging from the sketches on your wall, I don't think you're quite there, Dave. Dave Hanzlik (01:14) No, not yet, although these are several years old. So, yeah, yeah. Paul Tyler (01:18) Okay. Yeah. Hey, well, listen, we actually had a chance to catch up in person at the Limerick Annual Conference, which was great. But, Liz, it's hard at the beginning of the year not to look back and then look forward. You know, looking back to 2023, it was a big year in the annuity industry and also, you know, a big year for your company. Do you want to talk about the changes and the new name, maybe? Dave Hanzlik (01:44) Yeah, yeah. I mean, 2023, as you mentioned. true stage. We went to market and changed our name and brand in 2023. If anyone has done this before that's listening, they know this is a lot of work and wonderful, wonderful dedication from a bunch of talented folks. But it's really about for us, you know, we had a family of brands and we recognize that we want to over time really connect. Paul Tyler (02:05) Oh yes. Dave Hanzlik (02:21) across all the life stages of our customers, the financial services solutions that we can bring in. A huge part of that is our annuity and retirement solutions that help people as they're getting to and living through retirement. So I'm very excited about it and happy that we're through the first phase of it. Brand changes, there's always some things that trail for some period of time, but we think it's going to be a great thing for our annuity business. true stage business in general. Ramsey Smith (02:56) Fantastic. So look, we're coming off to Paul's point, a great year in annuities. A lot of that's been driven by the rate profile. And so curious to hear your thoughts, you know, one on sort of what segments you saw doing well and why you think they did well in 2023. And then we can sort of shift gears 2024, what that's like, what that's probably going to look like based on what could be. higher rates for longer or maybe things sort of pull back a little bit. So tell us a little bit about 2023 for starters. Dave Hanzlik (03:30) Yeah. And, you know, Paul, you and I saw a lot of this when we were together at the annual meeting. First of all, as we entered into 2023, we're coming off a historic year for the annuity business in general, over 300 billion of sales in 2022. And we're probably going to end up 2023 over 350 billion of sales. So another 20 plus percent year over year growth number. You know, yeah, Ramsey. and Paul, we heard this, the rate environment is a big, big mover of this. And I think it's, you know, a couple of things we've seen, like one is it's helped, you know, recapture the imagination of advisors recognizing, you know, where annuities can help their clients. And in particular, we've seen the fixed annuity space, the MYGA multi-year guarantee annuity space has done extremely well. And fixed index news did really well. And those are, I think a lot of that was driven by interest rates and advisors identifying that this was the value proposition was really hard to ignore for their customers. We also see the, what I saw in 2023 was a continuation though of growth and a number of other categories as well. The registered index links annuity space and another year that is over 10% growth. and probably going to reach 50 billion of sales in 2023. So although it was around rates, I think what we were seeing is just advisors understanding and recognizing that the value of the guarantees that annuities can provide and really bringing it more to their customer base and taking advantage of how the rates and guarantees were showing up. vis-a-vis what we'd seen in the past decade plus of the low rate environment. Paul Tyler (05:31) Yeah, it was hard not to have a conversation at LIMRA about rates. And, you know, it was a blessing, it was a curse. I mean, the blessing in that you could sell, you know, the products are able to, we're able to show bigger rates, bigger interest rates, higher cap rates. You know, challenges, it was the speed at which it increased. I think a lot of companies had challenges, you know, repricing those MiGAs. I mean, David, we, you know, we would... go out thinking we were going to be number one and number two. And by the time the rates hit, we were like in fourth place. It was, it was a crazy, crazy year. And then when the business did come in, did you have enough people in place, uh, to actually process the business? And, and, uh, I think, uh, we as a collectively, as a whole in the industry, I think we did a pretty good job, but I know that, you know, there were, there were service issues along the way. Dave Hanzlik (06:05) Right, right, right. Yeah, I think one of the, yes, there was a blessing and curse, you know, helping a lot more people using annuities, but stressing the operational administration framework of the industry. So, but I also think that's going to be a positive as you move forward in 2024 and beyond. I think as an industry, we were recognizing that there are some ways of looking at technology, data and... the service models that could be advanced to take on spikes in business, more business. And it's just sometimes a crisis forces involvement and advancement. So I think that's something that we're going to see as a major. And she's continuing to get better at service and administration and processing of business. Ramsey Smith (07:27) So one of the things you and I talked about a bit, Dave, independently was some other areas that have seen growth that have been sort of smaller markets. So we had talked about Diaz in particular. Is that, and again, it will unlikely ever to be as big a market as FIAs or RILAs, et cetera, but there is a market. Is that an area that you think will continue to see growth and attention? I can say that certainly, I've received inbound calls on them in a way that I hadn't in the past. So I'm curious if you're seeing any of that in your business sort of profile and if you think that might be part of the future as well. Dave Hanzlik (08:08) Yeah, I do think, you know, Ramsey, as we move into 2024, there's, you know, there's advisors and clients are going to take a renewed interest and look at annuities in general, not just my guys or fixed index annuities. They recognize like, well, there's value here and that the higher rate environment has kind of been an impetus for looking at. So for example, deferred income annuities. I think, I think you and I talked, I think part of it was like, hey, look, because of the rate environment, there's could just, this could actually just help people identify that there's, there's a deal here. And you know, there's something that we haven't been able to tap into for a few years because how low rates have been. I think just generally though, like income has been something that in 2022 and 2023, a lot of people weren't focusing on. And, but I think as the latter parts of 2023, we started to see more interest in it from an industry perspective. And I think you can continue to see that. And if you look at industry data, it hasn't really gone away. It's just the accumulation side has just exploded. And the need's still there. I'd also be curious, Ramsey, and it kind of was adjacent to our discussion, was part of it is... Ramsey Smith (09:24) 100% Yeah. Dave Hanzlik (09:37) a number of discussions, plenty of these discussions in 2023 where people are like, well, rates are so great. This is the time we should, there's a deal here. And so, you know, and part of, for me, part of it's like, well, that this is part of what annuities are supposed to help people with, which is help them like not get swayed by ups and downs in markets. So Ramsey Smith (10:04) Mm-hmm. Dave Hanzlik (10:05) there is a little bit of a lot watching behavioral finance play out where people like rates look so good. Now I'm going to jump into this, you know, universe. So that is something I think as we move into 2024, you know, again, looking at like, how are people looking at plans, their long-term plans, and, you know, I think a crisis can help people kind of re-examine what their long-term goals are. You know, someone feels like they could be all in equities and then, you know, markets drop 30%. Maybe they really can't be. But I think that's something that will be a really interesting topic and item to kind of navigate in 2024 is kind of get back to – and partly I think rates are going to level out a bit here. And as they do, now are people going to kind of start looking about what is the financial plans that we're putting in place for our clients? what are the solutions that can make sense? And income, I think, is one of them. Ramsey Smith (11:08) Yeah, no, absolutely. I mean, it was an interesting discussion I had with this client, ultra high net worth individual. And so liquidity was not an issue. It was really a matter of, so the issue of a deferred income annuities, you essentially have a loss of control of the assets you allocate to it. And so liquidity wasn't an issue for this client. It was very much this idea of creating some sort of counterpoint, some diversification into a portfolio that otherwise was risk loving, is probably not the way I'd put it, but risk comfortable. It was a very sophisticated investor. And so that's why I thought it was interesting. And to your point, like pricing levels were very attractive, both because of rates and because of appetites relative to longevity risk, you know, at that moment in time. And so I think it worked out well for all parties involved. Dave Hanzlik (12:04) Yeah, I think, you know, when you look at income today, the industry has, you know, learned a lot of lessons during the Great Recession and, you know, now has deferred income annuity is a great tool, right, Ramsey, for those that don't need the liquidity. But I think the pricing and the creativity around solutions, whether they be in the variable annuity space, the redshift, and the annuity space. fixed the next news was in the fixed annuity space, which are almost very close. There's fixed annuities with income options that are very close to deferred income annuity except with liquidity, right? So I think there's a lot of great options out there. And I think the industry has done a really good job of setting up the solutions that can be appealing to customers, as well as, you know, we've got... we have the risk return, risk management piece down really well. Paul Tyler (13:08) And Dave, I guess, where do you see the biggest white space in the business? I mean, there are ones where if you look at the reports, you say, okay, well, how do we increase penetration in the RA channel? Ramsey, your topic, how do we get more annuity sales in the workplace? The numbers are low, the opportunity is big, but it's also the barriers are really high. I mean, if you sort of think of your CEO of the industry. Where would you say we should be putting our bets here over the next few years? Ramsey Smith (13:39) That's a great question. Dave Hanzlik (13:41) Yeah, I mean, I think those two topics as well as if you think about the topics of, you know, income and retirement plans and the solution that, you know, what's consistent in all of them is the complexity of trying to, you know, have a technology stack and operational stack that can fit within how those marketplaces work. because they weren't created to accommodate the kind of guarantee solutions. And so I think that's the big challenge to, I think all three of those are really interesting opportunities. But if you're asking me like, okay, Dave, like next few years, where do you think the white space is? I mean, this is no surprise given kind of what our company focuses on. I still think registered index link annuities is a... wonderful solution because it captures the, you know, addresses the need. Everyone, you know, people are using news because they want downside protection. And then with RILAs, they have the upside potential that they need. And now it's had a lot of discussions and there were discussions at the Limmer meeting, Paul, like, well, you know, because of where rates are, does this mean like RILAs aren't as important? And you still saw... double-digit growth in RILAs in 2023. And when I talk to my counterparts and other companies, everyone has a RILA or is looking at it, you know, because I think it's just a really creative solution that can kind of bridge a gap of, you know, because people need to continue to grow their asset base, right, but they also, guarantees are a wonderful way of kind of helping them navigate risk and, you know. of control their behavior risk as well as stabilize the portfolio. And even like, it goes back to Ramsey when you're talking about your higher net worth client that was like part of using like a deferred income annuity, it stabilizes part of their portfolio that allows you and them to work on taking risk in a fashion that makes more sense for their needs. And so, Ramsey Smith (16:02) Mm-hmm. Dave Hanzlik (16:13) A lot of, so I really think RILAs are, they'll continue to see them become a bigger and bigger slice of the NUIDI product. Ramsey Smith (16:21) Can I just sort of extend that a little bit? Just curious, and I have a follow-up comment. So RILAs are interesting. RILAs are registered. So a different, potentially different type of advisor has to sell it, right? And so I guess my question is like, so is there beyond just the fact that it has practical implications for the customers, does it open up a new target audience? Has it opened up a new target audience for you in terms of advisors that you are or could work with? Dave Hanzlik (16:33) Right. Yeah, we've seen it in two fashions, Ramsey. One is, we found that with, you know, it is registered. So, but, you know, some advisors that are registered tend to work with, you know, tend to work with fixed annuities more, fixed index. They tend to work, you know, we found that this has kind of helped them open up, you know, a better way of getting after upside potential with their customers. Ramsey Smith (17:08) Yeah. Dave Hanzlik (17:19) with a customer base that tends to be more conservative that they say, oh they want to manage accounts or they want to be in mutual funds, but then as soon as there's a market correction they want to run back into CDs and fixed annuities. So this has been able to help those advisors and have a more logical solution to help their customer base. The other place is, and this is I think, is folks that advisors that just really weren't using annuities, right? Because they're very comfortable with efficient frontier optimization. And this is something we have many conversations with. We're like, how do you do this? Conversations where we had to kind of like, how does the, how do you, are you sure this makes, you know, advisors are really, maybe have your background, Ramsey, that they really understand how it how insurance companies construct these solutions. I think it could be something that could help us with the RIA space, traditionally a space that's more focused on just not using guaranteed solutions as much. So those are the two places we've seen as our company, where we've seen some build bridge out into some new space that we weren't seeing before. Ramsey Smith (18:29) Yeah. So part of the reason I bring it up is I recently was asked by a family member, a friend actually, to take a look at a portfolio that somebody who was retired had and it was run by sort of a name brand advisor shop or a wirehouse type. And I looked at the asset allocation and 10% of it was allocated into what they called alternatives. But essentially they were structured notes. I looked at the structured notes and it's like... these structured notes have the same risk profile that a RILA would have. They were really, you know, twin with what are, other than the fact they were written on a bank's paper, as opposed to written on the paper of an insurance company. So I think that sort of the aha moment for me was that, like, there's already use of very similar products already in there. Sometimes they're based on sort of central asset allocations. Some, you know, maybe they're, made at the company level and the advisors just sort of take what the investment they're supposed to do but it's my way of saying that like there are there are places where things that are close enough to Rila's already exist and are being allocated that might be a business opportunity for you and for others in the space. Dave Hanzlik (20:00) Right, right. Paul Tyler (20:01) Interesting. Well, you know, we've had Joe Jordan on a couple of times. I worked with Joe back at MetLife way back when, and Ramsey, well, he always said was, how do you get somebody to do something new as you make it look like something they already do? So, and I think these products that we put out, as much as we think and talk about consumer value, it's, whoever the independent agent, the registered rep, the independent financial advisor, kind of be, they have to, the product has to be one that they feel comfortable selling it probably as close to the process they've already done. Ramsey, I'm presuming you had probably a relatively easy discussion saying, look, you already own these bank structured notes. Look at this product over here. It's kind of similar and maybe it's a little more efficient. Ramsey Smith (20:48) Yeah, so I was evaluating, I wasn't selling this. I was just trying to help them understand what they had. But I think it's that balance between pattern recognition, like the advisor understands it well enough, but your offering as TruStage is unique enough that they understand that it's different than the other things that they recognize enough that it's in their comfort zone. And that's the balance that you... Paul Tyler (20:52) Yeah. Dave Hanzlik (21:15) Yeah, I really like this question. It does remind me of one of the things that as an industry we really need to continue to focus on, whether it be in new spaces that we have under-penetrated like RIAs or just our current spaces, our current broker-dealer partnerships, how do we continue to make it as easy as possible for the advisor and client to use our solutions because it's a highly regulated... industry. There's a lot of complexity of just trying to pull sources of funds and all that. And that continues to be, you know, and it's always a topic at our industry conference. There's multiple topics on this and it's something that we continue to focus in on in terms of our investments and the industry in general. And that's one of those things that I, you know, I continue to encourage my peers to like, where are we finding ways of Ramsey Smith (21:46) Sure. Yeah. Dave Hanzlik (22:10) collectively trying to make this better for those that we're working with. It's not about, we're trying to just help make this solution more widely available, more easily usable in the different fashions that clients are getting served around their financial and retirement needs. Ramsey Smith (22:22) Yeah. Paul Tyler (22:29) So what would you put? It's January. We're still pretty close to the first New Year's resolutions for our insurance industry to do exactly that. They make it easier for advisors to explain these things and communicate the value. Dave Hanzlik (22:45) Can you say that again, Paul? Sorry. Paul Tyler (22:46) Well, what would you, you know, if you had a new year's resolution list for the industry, you know, what would make the top of the list there to make it easier to sell products to clients? Dave Hanzlik (22:59) Yeah, I think it would really be a focus in on working with the distribution partners. you know, how the solutions are, you know, seen and evaluated. And it kind of goes back to think what you, you know, Paul, you and Ramsey were kind of talking about before, like the pattern recognition and I was really working hard on with our partners, how this is similar to where this is similar to things that they're comfortable with and how do we kind of fit them within that technology and operational and process stack and say, Hey, like it's, it's not the same as what you have. It has some. advantages, you know, that provided, you know, allow it to be, you know, another arrow in the quiver. So I think the focus on like education of, you know, how this is similar and then how do we make it as easy as possible to kind of fit it within the process. Because I think that's oftentimes what we see in terms of what we get in some pretty specific discussions with our distribution partners. It's like... lot of it's like they like this when they understand this solution they like it and then it's just like well there's all sorts of things that we all these roadblocks to make it harder you can make it hard for an advisor to potentially use it and it's not to say like a news or that much there's so much more hard harder to use there's always like some like mutual funds management there's always things that can kind of get in the way of using them for a variety of reasons but that's what I would focus in on Ramsey Smith (24:25) Mm-hmm. Agreed. Well, I think when you sort of peel back the onion on virtually any financial product, even, and I say this sometimes, that even index funds are, I think, are more complicated than people think. It really ultimately comes down to sort of comfort and familiarity. I think that ultimately is what makes the world move, make this world move. Yeah. Paul Tyler (24:44) Okay. All right, so I got a double click on this here, Dave. So, you know, I was there at LIMRA on this platform, this panel talked about Ramsey Smith (25:10) Uh oh. Paul Tyler (25:15) AI, general, genera of AI. Boy, great for pattern recognition, great for, is that, what kind of role is that gonna play in 2024 in our industry, do you think? Dave Hanzlik (25:15) Yeah. Well, I think every single company in the industry is looking at it and trying to figure out, because I think we've all seen the applications of it. Hey, look, it'll write a term paper in 10 seconds. It'll take a... create a 40 slide PowerPoint for you in 10 seconds. So, us and our peers are all looking at where are some places that it can be used. But it's one of those things that there's a host of other issues that you have to navigate, because all of our companies are handling very sensitive information. And so, part of what we need to do is make sure we're... We have it in the right spots and really understand and test through it. But I think for us again, in 2024, I think the industry, it will be more around how can we make operational processes more efficient and then, you know, and then just kind of watching like, okay, are there other places we can extend it and how can we fit that within appropriately within privacy, security, regulatory frameworks? Because again, This is really, there's definitely sensitive stuff here that we all deal with, and rightfully so. How about you, Paul? What do you think? Paul Tyler (27:06) Oh, I'm bullish on it. In fact, don't get me started. No, I, listen, you know, I, everything you say I'm living, living the dream with our internal groups, but we've got some interesting sort of pilots, uh, in the works here. Ramsey knows some of them. Um, I do think we're going to have a great event Ramsey, if you want to talk about it in April, April 8th out in Las Vegas, talking about retire tech innovation in retirement, David, hope we can get you out there and your team. Um, Ramsey Smith (27:08) You're going to get him started. Don't get him started. We won't have time. Dave Hanzlik (27:10) Hahaha! Paul Tyler (27:34) send you some information on it, but this would be the third event that we've held. Ramsey, I think, yeah, you've been... let's see... Ramsey Smith (27:41) This will be two out of three. So the first one was in Hartford a couple years ago and I was traveling so unfortunately I couldn't make it. You guys sent me a nice message. You sent me a short video letting me know I was missed. So I definitely appreciated that. And then the last one was earlier, I want to say earlier this year, no it was last year. It was March of last year, sponsored by Capgemini. You guys put together a great space with them. That was fantastic. And now we're going on to the big stage. We're going to Las Vegas. So you know. Dave Hanzlik (27:44) Mm-hmm. Paul Tyler (27:52) Ha ha ha. Ramsey Smith (28:10) must be doing something right. That's fantastic. Glad to be part of it. Paul Tyler (28:12) Yeah. So it was great to have you on here. I don't know, any parting thoughts, advice for people actively selling annuities and having these conversations with clients on a daily basis? Dave Hanzlik (28:29) Yeah, you know, maybe we kind of touched on this before, but two things. One is like, do you think, you know, we should always navigate through recency bias? Like, it's been a high-rate environment, but you know, like, I think a lot of the opportunities are around, you know, with annuities in particular, it's like, hey, like, there's some great innovation that's happened and continuing to kind of explore how it can help from an income perspective, accumulation perspective. That's one layer. It's just continue to challenge like, you know, what solutions you're using and how that fits in with the longer term plan that you're working with your clients. And then the second one is I think this theme that we're kind of getting after like, you know, and one that we'll continue to work on and focus on is like, how are we trying to make the process of working with our industry as simple as possible and how are we like looking at tools like AI to kind of make this. These solutions and the partners we're working with make it as efficient as possible to help serve clients. Those are the two things that we'll continue to zero in and focus on. We're coming off, again, probably it'll be a historic year. I think that lays a great foundation to continue to help people with these solutions and things we can do as an industry. Paul Tyler (29:56) All right, this was great. Ramsey, any final thoughts, questions? Ramsey Smith (29:59) Oh, that's, I look, I just want to, I agree with Dave, ease of use. Ease of use is a growth, is a growth area for our industry. And I say that from somebody that touches the industry in many, many ways, distribution, my risk management from my former life as a board member. I think ease of use is, uh, ease of use is, is really going to be a, uh, an important and valuable growth area for, not just for the clients, but also for. You know, the, all of us that work in the industry, I think it will be. Paul Tyler (30:07) Hahaha! Ramsey Smith (30:29) think it will be universally beneficial. Paul Tyler (30:32) Annuity UX. What do you think about that, Ramsey? Is that a hashtag? Dave, you like that? 2024, hashtag Annuity UX. All right, Dave, hey, thanks so much. Look forward to having you back. And well, listen, we'd love to catch up with you later in the year. Ramsey, thanks. And thanks to all our listeners. Join us again next week for another great episode of That Annuity Show. Ramsey Smith (30:36) Sure, yes. Dave Hanzlik (30:39) It's great, Paul. You're the Chief Parking Officer, so... Ramsey Smith (30:40) Yeah. Here we go. Yeah. and Sure. __ Paul D. Tyler | CMO ptyler@nfg.com https://nfg.com M: 914-356-2138
Alison Salka, senior vice president, director of research, LIMRA and LOMA, said life insurance execs name profitable growth and leveraging technology as top challenges; less than a third consider their companies well equipped to meet that challenge.
Investing Volatility A recent client survey by Charles Schwab produced some viable insights during difficult times like this. Over the longer term 33% of investors attributed their greatest investing success to patience through volatility. It is hard to patient during the ups and downs, but the reality is when holding good quality investments, it has proven to always be the right thing to do. Unfortunately, patient doesn't mean 2-3 months and sometimes it may mean 2-3 years. The funny thing is that even though that patience has always paid off, our emotions lead us to want to sell at the worst times and many people end up doing so costing themselves drastically in the long term. The second most cited reason for clients' greatest investing success was careful research which came from 16% of respondents. We always tell people that before we step in and by a company, it's at least 10-15 hours of research. This doesn't mean you won't have volatility, but it does give you more comfort in knowing and understanding your investments during the difficult times which allows you to be patient. The biggest culprit for an investors worst investment was lack of research with 20% saying this was the cause. This doesn't surprise me as many people are quick to jump into the hype or invest in something because a friend or family member thought it was a good idea. Unfortunately, like the survey shows we have seen this work out poorly for many investors. Another big culprit for the worst investment was high risk with 13% of respondents citing this reason. In today's society people want to try and make a quick return, but that is not how investing works. People want to try and get big returns and they end up losing massively. We tell our client's a reasonable target should be around 8-12% in the longer term. Anything in excess of this and you are likely taking big risks that could put your portfolio in jeopardy. PCE There wasn't much in the Personal Consumption Expenditures Price Index (PCE), which is the Fed's preferred measure for inflation. The headline number was up 3.4% which was the same as last month. The core PCE, which excludes food and energy was up 3.7% and was one-tenth lower than the reading in August. Core PCE hit a peak around 5.6% in early 2022. With the aggressive increase in short term rates, the recent increase in the 10-year treasury, and the resumption of student loan payments likely slowing the economy somewhat I still believe the Fed should allow these hikes to sink in and evaluate where we stand in the coming months. Recession It is interesting how many people believed we were going to see a recession in 2023, but yet the numbers keep proving the doubters wrong. Today's Q3 GDP report showed annualized growth of 4.9%, which topped the estimate of 4.7%. It's important to point out that this report does account for inflation. The primary driver of growth here was the consumer as spending increased 4% in the quarter and accounted for 2.7 percentage points of the total GDP increase. Both goods and services saw nice increases as spending grew 4.8% and 3.6%, respectively. Gross private domestic investment also saw a major increase of 8.4% and accounted for 1.5 percentage points of the total GDP increase. Within this category the change in private inventories was the major contributor as it accounted for 1.3 percentage points of the headline number. Government spending and investment also grew 4.6% and accounted for 0.8 percentage points of the headline number. The only detractor in the report was trade as the net exports of goods and services took away 0.08 percentage points from the headline number. While I believe this will likely be the highest GDP report we see for some time, I do believe we can still avoid a recession as the consumer remains in a good spot. Financial Planning: Annuity Sales Continue to Grow As market volatility continues, annuity sales continue to climb. Last quarter annuity sales hit $89.4 billion which is an 11% increase over the 3rd quarter of 2022, according to LIMRA. Sales reached a record in 2022 and that record may be beat in 2023. This is common during times of uncertainty in the market as investors and retirees look for safer places to put their money and many advisors are happy to sell them. This can feel more comfortable in the short term, but typically leads to underperformance in the long term. Retirees must remember that inflation and longevity risk, in addition to market risk, need to be factored into their retirement income plan. Annuities reduce portfolio volatility and can provide peace of mind at the expense of performance. Even in retirement, assets need to grow to outpace inflation and provide income, and lower performance increases the risk of running out of money too soon.
Amid concerns about equity market volatility, investors are becoming more conservative and more interested in adding annuities to their portfolios, said John Carroll, LIMRA senior vice president and head of insurance and annuities - U.S. and Canada.
In theory, having life insurance can be a means of helping to protect our loved ones and is typically a vital part of everyone's financial planning. However, according to LIMRA, a leading life insurance trade association, half of American adults — representing 129 million people — say they don't carry life insurance. Like so many financial topics, life insurance can also be confusing, resulting in consumers having misconceptions about it.See omnystudio.com/listener for privacy information.
While Life Insurance Awareness Month draws to a close, we're making it easy for you to take advantage of the important insights it provided. Simply tune in to the latest episode of Hancock Talks, where we are joined by Elizabeth Caswell, Research Director, LIMRA and LOMA, and host Carly Brooks, Head of Advanced Markets at John Hancock as they dive into a timely discussion that can help you:Prospect to different types of clientsRecognize barriers to the purchase decisionUnderstand your clients' needs and uncover new opportunitiesSee how demographics impact the buying process Motivate clients to make a purchaseFor financial professional use only. Not intended for use with the general public.Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595.MLINY092123869-3
From adjusting to hybrid work to a new generation of employees, the future of work seems more uncertain than it was a few years ago. Chris Morbelli, EY Americas Life & Group Insurance transformation leader discusses the findings of a LIMRA-EY collaborative study that surveyed employees across industries and organization sizes.
In this episode, Chris and Mike talk about the Q2 2023 LIMRA results and the impact UNUM has on the GSI market.
In this episode, Chris and Mike talk about the Q2 2023 LIMRA results and the impact UNUM has on the GSI market.
Todd Giesing, assistant vice president, LIMRA Annuity Research, said total U.S. annuity sales climbed to $181.1 billion, setting a new record, in the first half of 2023, and LIMRA forecasts a strong second half of the year.
New research from LIMRA and EY shows that workplaces have reached a “generational tipping point.” Millennials and Gen Z employees now make up the majority of the workforce — and are on pace to constitute 60% by 2031.1 These younger workers (42 years old and under) have different benefit preferences from the Baby Boomers and Gen X cohorts for whom benefits have traditionally been designed, and greater needs when it comes to benefits education and enrollment. LIMRA's Kimberly Landry joined John Stibal from Unum and Michael Stachowiak from Colonial Life to discuss how HR should react to this profound generational shift.A much broader view. According to Landry, LIMRA's second annual Benefits and Employee Attitude Tracker (BEAT) study shows that younger employees still want core benefits above all else. But they also want their benefits package to include a wider variety of supplemental health, wellness, mental health and other benefits. “The benefit programs of the future need to be more customizable and provide more options for employees to pick and choose from,” says Landry. [02:02]More choice means more confusion. As employers offer a larger number of benefits, they will need to increase their efforts to educate younger benefit consumers, according to Stachowiak. Stibal agrees that education is important to making informed decisions because with choice, “your employer is not making the decisions for you any longer.” [04:00]More benefits are more important. According to the LIMRA/EY Harnessing growth and seizing opportunity: 2023 Workforce Benefits Study, employers and employees both assign a high degree of importance to a fairly long list of benefit options. To compete effectively for talent, employers need to show that their benefits portfolio contains a wide range of choices to fit employees' differing needs. “About half of the employers in our survey told us they expect to be increasing the number of benefits that they offer in the next five years,” Landry says. [06:30]The biggest change since last year? Importance of leave. Employer perception of the importance of paid family and medical leave benefits jumped 26% over last year, as shown in the LIMRA/EY study. “Paid family leave sounds simple, but it's really, really complicated for employers,” says Stibal. Between complying with multiple federal, state and local leave laws and creating a good experience for employees administering leave is a challenging issue for employers. Employers may want to outsource [A1] leave management to a carrier who can provide a good combination of technology and human support. [13:00]How does all this factor into enrollment? As employers offer more benefits and as employees need more education, it's important to be mindful about how you roll out your benefits enrollment. Some best practices:Spread communication out over time in a drip campaign instead of bombarding employees with an overwhelming amount of information all at once. Talk about only one or two benefits at a time, so employees can pay equal attention to all their options. Communicate more about brand-new or unfamiliar benefits. Encourage employees to start enrolling early in the enrollment window, so they have time to ask questions and make informed decisions. [27:12]
Two new reports illustrate that employee expectations are high and getting higher. A March 2023 Unum survey shows that 87% of employers recognize that their employees expect more from them in terms of care and understanding.1 And the latest “BEAT” study from LIMRA shows that employees overwhelmingly value paid time off and other leave and insurance benefits, even more than flexible work schedules.2 In this episode, two of the foremost U.S. leave experts — Unum's Ellen McCann and Angel Bennett — discuss the implications for employers in this tough post-pandemic labor market. Employers are catching up. [01:47]Diversity is driving change. [04:30]Complexity is here to stay. [06:03]Paid leave is getting hotter.[07:11]Employers can't do it alone. [09:40]Companies that outsource free up time. [10:37]Care impacts the bottom line. [14:38]One key message? [17:28]Read the full show notes here.
June 12, 2023 on ForYourBenefit, host Bob Leins, CPA® welcomes Tony Zerante, Chief Strategy Officer, and Stephanie Baker, Chief Experience Officer, WAEPA. Across the country, there is still a significant need for life insurance, both from consumers who don't own any and from those who have some but need more. The Insurance Barometer Study, published annually by LIMRA, works to identify this need. Blending estimated U.S. adult population data with the survey results suggests the total life insurance need gap now encompasses 101 million adults. Today's guests will talk about the insurance need gap. What exactly is it? Why is it important for the insurance industry, and consumers, to consider? For questions or comments, email us in advance at ForYourBenefit@nitpinc.com
The 2023 LIMRA/Life Happens Life Insurance Barometer Study has just been released. TBA's Marketing Manager, Morgan Mynatt, highlights the three surprising new target markets for life insurance that are highlighted in the study & most importantly how to reach them. The Life Insurance Barometer Study SalesLink Information Schedule Demo
In over 300 episodes of Your Financial Pharmacist, we haven't covered much about annuities and today, Tim Baker, CFP®, RICP®, RLP® joins Tim Ulbrich, PharmD to do just that. On this episode, sponsored by First Horizon, you'll hear all about what annuities are, the main types and how they differ, common misunderstandings, fees associated with annuities, and how they can assist with building a retirement paycheck through the flooring strategy. Links Mentioned in Today's Episode First Horizon's Pharmacist Home Loan LIMRA: 2022 US Retail Annuity Sales Shatter Annual Sales Records Set in 2008 YFP Episode 275: How to Build a Retirement Paycheck YFP Episode 242: Social Security 101: History, How it Works, and Why it Matters YFP 294: 10 Common Social Security Mistakes to Avoid Immediate Annuities Website YFP Planning: Fee-Only Financial Planning for Pharmacists YFP Disclaimer Tim Baker on LinkedIn Tim Baker on Twitter Tim Ulbrich on LinkedIn Tim Ulbrich on Twitter
In this episode, Chris and Mike talk about the results from the 2022 LIMRA Report on Individual Disability Insurance sales.
In this episode, Chris and Mike talk about the results from the 2022 LIMRA Report on Individual Disability Insurance sales.
Talking Guaranteed Lifetime Income Solutions with Allianz Life's Michael De FeoGuaranteed lifetime income in retirement plans is a hot topic these days, with study after study revealing that Americans want to know more about it and view these products as a good fit to help them reach their financial objectives.While 401(k) plan sponsors are showing increasing interest in adding guaranteed income products to their benefit programs, there's still a lot of confusion surrounding what they are and how they work among retirement plan advisors and plan sponsors alike.To help us sort it all out and understand what's happening in this growing market, we are joined by Michael De Feo, Head of Defined Contribution Distribution at Minneapolis-based Allianz Life Insurance Company of North America, which has recently expanded into the defined contribution market as more Americans say they want guaranteed income options in their employer-sponsored plan.De Feo shares his insights about how the SECURE Act and SECURE 2.0 has spurred innovation in guaranteed lifetime income product design, the barriers to widespread adoption these products still face, and a shift toward more personalization through managed accounts and hybrid plan design.---------------1 Institutional retirement reference guide, LIMRA, 2022.2 U.S. Defined Contribution Distribution 2022, Cerulli & Associates, 2022.This content is for general informational purposes only. It is not intended to provide fiduciary, tax, or legal advice and cannot be used to avoid tax penalties; nor is it intended to market, promote, or recommend any tax plan or arrangement. Allianz Life Insurance Company of North America, its affiliates, and their employees and representatives do not give legal or tax advice or advice related to Medicare or Social Security benefits. You are encouraged to consult with your own legal, tax, and financial professionals for specific advice or product recommendations, or to go to your local Social Security Administration office regarding your particular situation.Guarantees are backed by the financial strength and claims-paying ability of Allianz Life Insurance Company of North America.• Not FDIC insured • May lose value • No bank or credit union guarantee • Not a deposit • Not insured by any federal government agency or NCUA/NCUSIFProducts are issued by Allianz Life Insurance Company of North America, 5701 Golden Hills Drive, Minneapolis, MN 55416-1297. (C64712-MVA)Product and feature availability may vary by state and broker/dealer.
Despite the fact that many know they need life insurance, nearly half of consumers do not have insurance, according to a 2021 LIMRA study. The most common reasons are that they think it is too expensive, they have other financial priorities, or they aren't aware of what they need and what type to purchase. To help you overcome the hurdles and make decisions to shrink your life insurance coverage gaps, we're sharing the top 10 reasons you need life insurance. https://www.youtube.com/watch?v=vuKJznszXbE So, if you have life insurance needs, doubts, interests, questions, or even fears, and you want straight-talk, no-nonsense answers… tune in now! Table of contentsWhy Do People Need Insurance?How Much Life Insurance Do You Need?10 Reasons People Buy Life InsuranceThe Benefits Outweigh the CostsIncome ProtectionPeace of MindTax Advantages to Grow Wealth FasterAdditional Retirement Income StrategiesAutomatic SavingsExcellent, Efficient Cash StorageAbility to Capitalize on OpportunitiesVelocity of MoneyGenerational WealthLinks for Further ReadingBook A Strategy Call Why Do People Need Insurance? [1:50] “I really just think it comes down to [the fact that] people do not want to face their own mortality. I think I said this once before on a podcast—we all know we're going to die, we just don't believe we're going to die.” It's almost an evolutionary development because if we were constantly obsessing over our mortality, the world would be a much different place. Even so, people think about their deaths the more they have to protect: families, estates, etc. Life insurance is the product that protects your family and estate if you die. Knowing that that protection is in place, you can sleep easier at night knowing that what matters to you will be taken care of no matter what. How Much Life Insurance Do You Need? Unfortunately, many families in the US are underinsured. Life insurance is perhaps one of the only insurance categories where this can happen. You can't underinsure your car or your house, nor would you want to. Yet people underinsure themselves all the time. One way this happens is because many people calculate their insurance by using a “needs analysis.” In other words they count out how much money they'd need to pay off their home, car, and other debt if they passed away. Sometimes they include the cost of their children's education. However, this doesn't account for any income. While this is of course a better approach than having no insurance, there's an even more effective way. It's called the human life value approach, or HLV. This is a way of calculating all the income you'd earn over your working years so that your insurance can act as a full income replacement. So if you're 30, you may multiply your annual income by 30 to get your HLV. If you're 50, you'd multiply it by about 10 or 20, depending. While this number seems shocking to many people, it's realistic. Insurance companies won't overinsure you, and they calculate HLV to determine the maximum amount of insurance you are entitled to. Many people don't start out with enough liquidity to pay the premiums for their full HLV. However, just by knowing what that number is, you can feel more confident in the amount of insurance you do choose to purchase. 10 Reasons People Buy Life Insurance We don't want to tell you what you “need,” because everyone has different circumstances. However, what we can do is share with you why people buy life insurance, and why they keep it. Hopefully, these can help you decide for yourself whether life insurance will be a benefit to you. The Benefits Outweigh the Costs [17:10] “Instead of painting in your mind ‘It's too expensive, I can't do it,' just check it out first. And then figure out if it's too expensive.” The problem with “too expensive” is that it means something different to different people. For some, it may mean that they can't fit it into their monthly expenses.
How do you keep your team engaged in a recession? WAEPA CEO Shane Canfield and The EnerGeo Alliance's VP of Communications and External Affairs, Gail Adams unpack this topic. M. Shane Canfield brings more than 25 years of experience in insurance and non-profit leadership to WAEPA.Shane came to WAEPA in 2016 and served previously as Executive Director of the Council on Employee Benefits. He has spent most of his career in the pooled-risk group/affinity insurance industry. In his role as WAEPA CEO, Shane is responsible for strategic planning and leadership, managing stakeholder relationships, and serving our Board of Directors in organizational oversight. With extensive experience in coalition building, government relations, and reporting to Boards, Shane leads WAEPA by consistently prioritizing member satisfaction, membership growth, and retention.He earned a Master of Business Administration (MBA) from George Mason University, a Bachelor of Science in Business Administration from Washington Adventist University, and is a board member for the Council of HR Management Associations, member of LIMRA, PIMA, International Foundation of Employee Benefit Plans (IFEBP), and is a past board member of the ASAE Business Services Inc. Additionally, Shane holds various certifications, including CEBS, RHU, CAE, SPHR, and SHRM-SCP.Gail Adams is the Vice President of Communications and External Affairs at the EnerGeo Alliance, an international upstream energy trade association. She has more than 20 years of experience in the environment and natural resources public policy arena and working with states and local governments. She has more than 30 years' experience in public affairs, non-profit organizations, and governmental affairs.She is a former Presidential Appointee as Director of the Office of Intergovernmental and External Affairs (OIEA) for the U.S. Department of the Interior (DOI), Immediate Office of the Secretary where she managed relationships between the DOI and Governors, state and local elected officials and the more than 6000 stakeholders and organizations that represent interests related to DOI. She also had a key role on the President's Task Force on Travel & Competitiveness and helped to craft the nation's National Travel and Tourism Strategy which brought the United States from 10th in the world back to first in market share for world tourism.Adams is a former television news anchor, public affairs show host, and radio personality. She is also a certified grants writer. Adams is a graduate of Louisiana State University.Main Takeaways:A unique behind-the-scenes view of how the energy and life insurance industries are fairing through the recession. There are a variety of ways to motivate people internally with training, progressive opportunities and in the community through collaborative work.Programs that bring diversity, equality and inclusion should never be put on the chopping board due to budget cuts as these initiatives create a stronger and more talented workforce to move your company forward.Professional development during the recession may include innovative thinking, changes in career direction, and obtaining additional training to pivot for employees.Always use the ART method when interacting with your employees. Be Authentic, have Representation and show Transparency. Learn the importance and spectrum of the energy industry and the imperative nature of life insurance.
There have been record number of annuities sold in the 3rd quarter of 2022 according to LIMRA. Fixed deferred and indexed annuities are seeing major growth year over year. In this show we discuss the main reason for these annuity purchases. The recent market volatility, desire for principal protection, and rising interest rates have created the perfect annuity storm.
There have been record number of annuities sold in the 3rd quarter of 2022 according to LIMRA. Fixed deferred and indexed annuities are seeing major growth year over year. In this show we discuss the main reason for these annuity purchases. The recent market volatility, desire for principal protection, and rising interest rates have created the perfect annuity storm.
Julie Keyes shares on Exit Planning for Family Business About: Julie Keyes is a Certified Exit Planning Advisor (CEPA) the founder of KeyeStrategies, LLC in Minneapolis, MN specializing in exit and transition consulting. Julie has been an entrepreneur most of her life. As the founder and operator of several companies, she understands the responsibilities of ownership and the struggles that come with the role of being an owner. She works with business owners who seek to understand and maximize their exit and critical transition options. She is actively involved with the Exit Planning Institute, as a faculty member, a member of its Leadership Council, and recipient of EPI's “Thought Leader of Year” in 2017 and 2022. She is also on faculty for Hoopis Performance Network and a Speaker Network member. Her speaking engagements for the financial services and entrepreneurial organizations have included NAIFA, WIFS, FPA, NAWBO, Merrill, UBS, LIMRA, Lincoln Financial Services, Principal Financial Group and Frost Bank Julie recently released the 2nd Edition of “Poised for Exit” a book which helps owners of privately held companies navigate the process of business exit. Her weekly podcast, also called “Poised for Exit”, provides content relevant to business owners and advisors alike, and can be found on all major podcast platforms. She also produced an online course specifically to help advisers educate their clients and prospects on the process of Exit Planning called “Business Transition Readiness: An Owner's Guide to the Process”. On a personal note, Julie and her husband Shaun have 8 children and 10 grandchildren, spending as much time with them as she can. She's also active in her parish and in the business community. Websites: https://keyestrategies.com/ and https://www.poisedforexit.com/
Employee benefits have taken a huge leap in importance, according to two new studies from the insurance-industry research group LIMRA. Listen as LIMRA's Kelly Landry and Unum Group's Cindy Nevers discuss five mega trends expected to change the industry – and enrollment tips for employers to implement now. The full reports are available to LIMRA members, and previewed in this special episode for HR Trends listeners. The studies: The first annual BEAT (Benefits and Employee Attitude) Tracker study surveyed employees to determine how benefits intersect with employee attitudes toward work. Harnessing Growth and Seizing Opportunity: The Future of Workforce Benefits presents megatrends to watch in the next several years, distilled from the insights of key industry stakeholders. [04:36]See the free LIMRA infographic [A1] on what employees think about work. [07:21]Money isn't everything, especially for millennials: Only about 30% of millennials said salary was the top reason to choose an employer. The rest prioritized factors like work/life balance, flexibility and benefits. [10:38]Benefits education and communication are vitally important: All stakeholders agree that helping employees understand their benefits is of mounting importance, especially for supplemental benefits. Rethink the emphasis on total self-service for benefits, especially for younger workers who have less experience buying and using insurance coverage [12:00]More is more: There is a strong correlation between employee satisfaction and the number of benefitsoffered. With five generations in the workforce, employers need to offer a large number of benefits employees can choose from based on their individual circumstances. See the free LIMRA infographic on what employees think about benefits. [20:38]Rethink your benefits spend: Because employees value quantity and choice, it may not always make senseto commit the vast majority of benefits spending to offering the most generous health insurance plan. Supplementing a less generous plan with voluntary benefits like accident and critical illness can offer similar protection for employees while allowing them to tailor benefits to fit their age, lifestyle, income and other circumstances. [23:38]Brokers aren't going anywhere, but their role will likely change: As it gets easier to obtain digital quotes for benefits, employers will call upon brokers more for advice, guidance and strategy consultation [26:07] Enlisting leadership in the communication effort will make employees feel more valued. [32:00]Featured speakers Kimberly LandryAssociate Research Director, LIMRAKimberly Landry is an Associate Research Director for Workplace Benefits Research at LIMRA. She conducts quantitative and qualitative research on hot topics within the employee benefits industry, with a specific focus on employer and employee perspectives. Cindy NeversNational Sales Leader Voluntary Benefits, Unum Group In her more than 30 years with Unum Group, Cindy Nevers has held a wide range of leadership roles for both Unum and Colonial Life brands. She has led oversight for Group Client Services, Global Services/Project Implementation & Journey transformation, Field Operations and Field Compensation, and Client Management. Cindy led national broker strategy at Colonial Life and most recently became the National Sales Leader for Voluntary Benefits at Unum.
Are you waiting until it's too late? Money Not Math 113 Are you waiting to get personally owned life insurance until it is too late? Are you waiting for a major life event to occur before buying life insurance? Would if that major life event makes you unable to get life insurance so it is too late? Did you know you can lose your group life insurance and your group life insurance doesn't come with you when you leave your job? Did you know that it's life insurance awareness month? “The global pandemic raised awareness of how fragile life is and the importance of preparing for the unexpected. According to LIMRA research, 31% of Americans say they are more likely to buy life insurance as a result of COVID-19. This is even higher across many demographics, including Millennials (44%), Black Americans (38%), and Hispanics (37%). Our research also shows that people who own life insurance are more likely to feel financially secure. Nearly two thirds of insured Americans say they feel financially secure, compared with less than half of those uninsured.” https://www.limra.com/en/newsroom/liam/#:~:text=September%20Is%20Life%20Insurance%20Awareness,a%20result%20of%20COVID%2D19. #MoneyNotMath #5StoneFinancialGroup #RetirementPlanning #Money #LifeInsurance #LifeInsuranceAwareness #Legacy #FinanciallySecure Disclaimer, this content is not legal, tax, or investment advice. You should always consult a qualified professional regarding your personal situation.
We're kicking off Life Insurance Awareness Month with insights from Lai-Sahn Hackett, Corporate Vice President of Insurance at LIMRA and LOMA. With a focus on the details research reveals about consumers' awareness of life insurance today — and what that means to us as we talk with clients — we explore:The latest on client perceptions about life insurance What are the biggest opportunities in today's life insurance market How financial professionals can capitalize on the unmet need for life insuranceTips and talking points for building trusted client relationships For financial professional use only. Not intended for use with the general public.Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. MLINY081822710-2
Limra's Tumicki: Some Patients Lacking Insurance Turn to Savings When Unable to Work
What role should an industry association play to support the growth of the life insurance and annuity business? This week's guest, David Levenson has invested a lot of time of energy answering this question. As President and CEO of LIMRA, LOMA & LLGlobal, Dave has redefined the mission, structure, and operations of our major industry association during a period of crisis and rapid change. Today, he gives us an update on the group's future direction and his perspective on major industry trends. Also, do you want to get regular updates on news about guests of our show? Go to https://thatannuityshow.com and subscribe to our newsletter. We hope you enjoy the show. Links mentioned in the show: https://www.linkedin.com/in/davidnlevenson/ https://www.limra.com/
Women place an equal amount of value on their lives as men, but the gap in life insurance coverage persists even as income and domestic responsibilities evolve. By in large, women tend to carry less coverage than their male counterparts. An LIMRA consumer study conducted in 2021 found that only 47 percent of women have life insurance coverage, compared to 58 percent of men. This week on FEDtalk, the panel discusses life insurance considerations, trends in access to coverage, and the future of benefits. Host Jason Briefel joins Alison Salka, Senior Vice President and Director of Research at LIMRA, and Shane Canfield, CEO of WAEPA. LIMRA connects the financial services industry worldwide through research, consulting, and professional development that provides people with access to data, thought leadership, and solutions. Formed by and for federal employees, WAEPA is a nonprofit association that offers affordable Group Term Life Insurance coverage. The show airs live on Friday, March 25, 2022, at 11:05 am EST on Federal News Network. You can stream the show online anytime via the Federal News Network app and listen to the FEDtalk podcast on all major podcasting platforms. FEDtalk is brought to you by Shaw Bransford & Roth P.C., a federal employment law firm. Bringing you the insider's perspective from leaders in the federal community since 1993.
Topic: Shane Canfield (CEO, Worldwide Assurance for Employees of Public Agencies) and Tinisha Agramonte (Chief Diversity Officer, Motorola Solutions) share strategies you can use to rise up the ranks and ideas to help your organization with succession planning. Today's guests: M. Shane Canfield brings more than 25 years of experience in insurance and non-profit leadership to WAEPA. Shane came to WAEPA in 2016 and served previously as Executive Director of the Council on Employee Benefits. He has spent most of his career in the pooled-risk group/affinity insurance industry. In his role as WAEPA CEO, Shane is responsible for strategic planning and leadership, managing stakeholder relationships, and serving our Board of Directors in organizational oversight. With extensive experience in coalition building, government relations, and reporting to Boards, Shane leads WAEPA by consistently prioritizing member satisfaction, membership growth, and retention. He earned a Master of Business Administration (MBA) from George Mason University, a Bachelor of Science in Business Administration from Washington Adventist University, and is a board member for the Council of HR Management Associations, member of LIMRA, PIMA, International Foundation of Employee Benefit Plans (IFEBP), and is a past board member of the ASAE Business Services Inc. Additionally, Shane holds various certifications, including CEBS, RHU, CAE, SPHR, and SHRM-SCP. Tinisha Agramonte, the Architect of the First Generation Professionals Initiative, a first of its kind Federal government diversity and inclusion program, is a highly regarded Civil Rights and Diversity Champion whose personal and professional mission is to advance equitable opportunities for all. She has 25 years of experience in the Equal Employment Opportunity (EEO), diversity, civil rights, and human relations arenas as a civil servant, consultant, university instructor, and trainer/facilitator. Throughout her 23-year federal career, Agramonte held leadership positions with various Federal agencies, including the Departments of Commerce, Veterans Affairs, Army, and Air Force, and the U.S. Small Business Administration. As a principal advisor, she provided executive leadership, strategic direction and guidance, leading agencies through transformation efforts, strategically embedding and integrating innovative and forward thinking EEO, civil rights, and diversity programs into day-to-day agency operations. She led and implemented policies and programs that impacted workforces up to 300,000 employees and were recognized as best practices in the federal government. Agramonte was appointed to the Senior Executive Service (SES) in 2013 and served in SES capacities for seven years before recently resigning to accept a position as the Chief Diversity Officer for Motorola Solutions, Inc. Early in her life, Agramonte was identified as an at-risk youth. With the help of mentors and educators who saw potential in her, she was able to overcome significant challenges. Because of their guidance, she realized the potential they saw in her and was encouraged to reach unimaginable heights. For this reason, and as a First Generation Professional, Tinisha is compelled to “pay it forward” by ensuring ALL people have the access, opportunities, encouragement and support needed to realize their fullest potential. Agramonte was an adjunct instructor for Chapman University, teaching senior-level Diversity Management courses. She received her Bachelor's degree in Mass Communications from California State University, Hayward and her Master's degree in Human Relations from the University of Oklahoma. She is also a member of Alpha Kappa Alpha Sorority, Music: https://www.bensound.com/
In this episode, Chris and Mike talk about the results from LIMRA's 2021 study. They also give a great sales idea that anyone can use!
In this episode, Chris and Mike talk about the results from LIMRA's 2021 study. They also give a great sales idea that anyone can use!
Radio Annuity Market Conference, all-expense-paid – Building annuity marketing branding and credibility, the process never stops, and we can do it for you free of charge – Allianz bonus and payout rate update – 2021 annuity sales number from LIMRA, all-time highs.
Limra's Salka: Consumers Highly Confident in Insurers Amid Growing Concerns About COVID, Economy
Meet Sears Merritt, Head Technology & Data, MA Mutual Investments. Sears has been recognized as one of the life insurance industry's top 25 innovators under 40 by LIMRA and an academic-industry partner by the American Statistical Association. He is a member of the board at Barings, an advisor to Antara Health and member of the Innovation Committee for the American Council of Life Insurers. Sears is a senior leader with expertise in the areas of data science and analytics as well as enterprise and internet technology. Over the past 15 years, Sears has spent time leading and innovating in numerous industries, including healthcare, telecommunications, and financial services. Sears currently leads MassMutual's technology and data functions, where his teams are focused on modernizing the firm's architecture and bringing digital, cloud-native, data-driven capabilities to bear throughout the company. Sears was also responsible for architecting one of the nation's first regional telehealth networks in Colorado. He holds a Ph.D. in Computer Science, M.S. in Telecommunications, and B.S. in Electrical Engineering from the University of Colorado at Boulder and an M.B.A. from the Sloan School at Massachusetts Institute of Technology. Follow the Insurtech Leadership Podcast airing weekly hosted by Joshua R. Hollander. We give you up-close access and personal insights from the leaders of the fastest-growing #insurtechs and most innovative #insurance carriers and brokers.
The pandemic raised awareness about insurance, while advances in technology have dramatically improved the application, underwriting and delivery of policies. In spite of that progress, a majority of Americans are still without life or long term care insurance altogether, or have a significant coverage gap. In this episode, LIMRA President & CEO David Levenson joins us to discuss this important issue, and share what LIMRA is doing to assist carriers and financial advisors in marketing life insurance products.
Listen to Marianne Purushotham, FSA, MAAA, Mortality & Longevity Steering Committee Chairperson and Corporate Vice President at LIMRA discuss current events, including volunteer opportunities in the Mortality and Longevity Strategic Research Program with host, R. Dale Hall, FSA, CERA, MAAA, CFA, SOA Research Institute Managing Director. We welcome your questions or comments at researchinsights@soa.org
En este programa abordaremos el tema de la profesionalización de los agentes de seguros en compañía de Carlos Islas, Representante de LIMRA en México y Master Trainner, así como Oscar Pinzón Velarde, Director General Exse Asesores en Seguros.
Each year, September is designated as Life Insurance Awareness Month by LIMRA. In this episode, we talk about the following misconceptions: 1. Life insurance is too expensive 2. My workplace life insurance is too expensive. 3. It is too difficult to buy 4. I don't need life insurance until I am older. If you have any questions about life insurance or any financial topic, email david@parallelfinancial.com or click www.calendly.com/davidpf to set an appointment.
Make this September the best Life Insurance Awareness Month yet by learning how to uncover new sales opportunities and overcome purchase barriers. We're joined by Alison Salka, Senior Vice President and Director of Member Benefits Research, LIMRA, who will discuss the following topics: The key life insurance need gap that offers the greatest opportunities Strategies to help your clients see the value of life insurance — and decide to buy Tips for starting the conversation and building a trusted relationship with your clients Policy-review pointers to help you find new opportunities For Financial Professional Use Only. Not intended for use with the general public. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. MLINY082421136-2
Make this September the best Life Insurance Awareness Month yet by learning how to uncover new sales opportunities and overcome purchase barriers. We're joined by Alison Salka, Senior Vice President and Director of Member Benefits Research, LIMRA, who will discuss the following topics: Why now is the time to talk about life insurance How innovation is helping close the life insurance gap Tips for dispelling myths and building trusted client relationships How to add value during policy reviews For Financial Professional Use Only. Not intended for use with the general public. Insurance products are issued by: John Hancock Life Insurance Company (U.S.A.), Boston, MA 02116 (not licensed in New York) and John Hancock Life Insurance Company of New York, Valhalla, NY 10595. MLINY082421136-2
Alex J. Orci es Agente de Seguros y Fianzas, Conferencista y Coach, experto en Ventas de Alto Impacto, con más de 14 años de experiencia.Calificado dentro de los Top 50 agentes a nivel nacional por GNP, miembro de MDRT y LIMRA así como certificado por la American College of Financial Services.Lograr el éxito en ventas es un aprendizaje constante y ahora quiere enseñarte a ti a cómo conseguir el éxito más rápido.
The next few years promise to bring more change to our business than the last 50, according to our guest Jim Kerley. He should know. Jim has worked for carriers, launched businesses, and played a leading role at LIMRA. Today, he is managing partner of Clearview Partners and shares his perspective of change not only in the U.S. but around the world. Also, do you want to get regular updates on news from Jim and other guests of our show? Go to https://thatannuityshow.com and subscribe to our newsletter. We hope you enjoy the show.
This week, Jamie Hopkins talks with David Levenson, President and CEO of LIMRA, LOMA, and LL Global, about gaps in the insurance industry, focusing on employees before customers, and why everyone is stronger together. You can find show notes and other information at CarsonGroup.com/Framework.
Please share your thoughts about this interview at http://alextremble.com/?p=298 M. Shane Canfield brings more than 25 years of experience in insurance and non-profit leadership to WAEPA. Shane came to WAEPA in 2016 and served previously as Executive Director of the Council on Employee Benefits. He has spent most of his career in the pooled-risk group/affinity insurance industry. In his role as WAEPA CEO, Shane is responsible for strategic planning and leadership, managing stakeholder relationships, and serving our Board of Directors in organizational oversight. With extensive experience in coalition building, government relations, and reporting to Boards, Shane leads WAEPA by consistently prioritizing member satisfaction, membership growth, and retention. He earned a Master of Business Administration (MBA) from George Mason University, a Bachelor of Science in Business Administration from Washington Adventist University, and is a board member for the Council of HR Management Associations, member of LIMRA, PIMA, International Foundation of Employee Benefit Plans (IFEBP), and is a past board member of the ASAE Business Services Inc. Additionally, Shane holds various certifications, including CEBS, RHU, CAE, SPHR, and SHRM-SCP.
While many of us find the topic of life insurance one that is ‘complicated and expensive,' it couldn't be further from the truth. If you consider what it means for your family, the right life insurance plan helps loved ones in your absence and protects the assets you've worked your life for. Death often comes is unexpected - that's a fact. But designing a plan that works with your portfolio only makes day-to-day living easier for the people you care about and gives you peace of mind. In this episode, I discuss how to overcome the stigmas of life insurance and why you should be using it as a financial tool for your family today. Show Highlights Include: Plato's understanding of the human mind and what it means for how our emotions impact the life insurance decisions we make. (1:40) What a near-death experience reveals about your life insurance and how to immediately take the financial pressure off your community and family members. (6:08) How the LIMRA study strips any stigmas of life insurance being “too expensive” and the three factors that determine what you pay today. (12:30) How risk management helps you chooseplays a role in your life insurance and designning a plan that preserves your assets and protects your family for generations to come. (15:02) To schedule your free retirement tracking meeting, specifically for first responders, head to http://pensionattention.com/ or call us at 805-409-8150.
AXA, Life with inSight: Life Insurance Sales Podcast Series for Financial Professionals
Join us as Paulina Vakouros, Lead Director of Marketing for Protection Solutions at Equitable and Dr. Sandra Timmermann, EdD, a nationally recognized expert in gerontology, have an informative discussion on how you can help your clients pursue long-term financial security with long-term care protection. They discuss costs, trends in caregiving, how to have “the conversation” and how to integrate long-term care into a holistic retirement plan. -- IU-3227501 (9/20) (9/22)
AXA, Life with inSight: Life Insurance Sales Podcast Series for Financial Professionals
A Post Presidential Election Analysis. Listen in on the discussion about the election results and – more importantly – the effect of those results on the economy, financial landscape and planning that can be done for clients. -- IU-3293964 (10/20) (Exp 10/22)
AXA, Life with inSight: Life Insurance Sales Podcast Series for Financial Professionals
The 2020 Presidential and Congressional races are heavily contested and very high profile. Ahead of the election, Equitable's Lobbyist, Kyle Cormney, from FTI Consulting, tells us what issues to look for and how the outcome may affect the financial services industry and your client's planning. -- IU-3241930 (9/20) (Exp. 9/22)
"Only 59% of Americans have life insurance, and about half of those with insurance are underinsured, according to LIMRA. One problem is that nine million households just have group life insurance. That's usually not enough." In the episode, we are talking about life insurance and why you need it. We help you calculate how much life insurance you need and things to consider when deciding between whole life and term life. This is all part of estate planning that you need, especially if you are the main one taking care of your child. How far have you come along in your estate planning? Do you have life insurance? If you have any questions you want us to answer on future episodes, send an email to hello@singlemomsonthemoney.com. We will address a question on each episode. www.singlemomsonthemoney.com Follow Single Moms On The Money on Instagram - @singlemomsonmoney Music - Come On, Let's Go by Le Gang #singlemomsonthemoney --- This episode is sponsored by · Anchor: The easiest way to make a podcast. https://anchor.fm/app --- Send in a voice message: https://anchor.fm/singlemomsonthemoney/message Support this podcast: https://anchor.fm/singlemomsonthemoney/support
El factor principal para desempeñar con éxito la profesión de agente de seguros no es cuestión de género, sino de que ames lo que haces; de esa forma, todo es más sencillo. Para hablarnos de este tema invitamos a Susana Ruíz Falcón. Ella comenzó su carrera en el sector asegurador en el año 2005 y desde sus inicios y a la fecha, ha tenido incontables reconocimientos por sus ventas en el seguro de vida con ahorro, haciéndose acreedora en 2010 y 2012 del Trofeo AMASFAC a nivel nacional. Ha sido ganadora en siete ocasiones del IQA que otorga LIMRA. Es también miembro de la MDRT calificando cada año con la máxima membresía Top of the table.
Allison Conkright Engel is the Sr. Director, Diversity & Inclusion at Northwestern Mutual. She has 20 years of work experience driving innovation across media, tech and finance. For almost a decade Allison has been focused on gender equity in historically male dominated industries. She had been driving outcomes in this space as an intrapreneur and is a globally recognized expert who mentors and implements growth strategies around opportunity markets. She has rolled out global programs across North and South America, EMEA and APJ. Prior to Northwestern Mutual, Allison was in a Global Marketing and Communications role at Dell where she helped to build and lead the Dell for Entrepreneurs initiative which she worked with high growth startups and the entrepreneur community in the US and Europe. She has a BS in Marketing and a BS in Management from Arizona State University and a Certificate in Diversity and Inclusion from Cornell University. Currently, she is a mentor for the Cherie Blair Foundation and mentors women around the global on sustainable and growth business practices and is an active member of GAMA, WIFS, LIMRA and locally TEMPO Milwaukee and the Women’s Affinity Alliance. This Los Angeles native, relocated with her husband and daughter from Austin, Texas to the midwest and travels frequently speaking and sharing her expertise on propelling gender initiatives forward. In this episode of Fairygodboss Radio, Romy talks with Allison Engel about her career journey and the importance of self-awareness.
AXA, Life with inSight: Life Insurance Sales Podcast Series for Financial Professionals
Join us to hear a discussion about the vital importance of Hybrid Domestic Asset Protection Trusts. Discover how these trusts can be used effectively to insulate and protect your client's assets and the important role they play in maximizing estate distribution. -- IU-3063132 (10/20) (Exp. 10/22)
In this episode, sponsored by Mutual of Omaha, we’re bringing you highlights from the April 16th webcast, Benefit Trends to Watch in 2020 and Beyond. This event featured Marty Traynor, Retired Senior Vice President at Mutual of Omaha, as well as Anita Potter, Assistant Vice President at LIMRA.
Teneo's President Mike Schugt and a panel of event industry experts discuss how meeting professionals and hoteliers can navigate through this unprecedented time. Panelists: James Daniels is President and CEO of The Meeting Designers. Joan Orentlicher has worked for LIMRA and LOMA for 22 years as the AVP of Meetings, Conferences and Travel.Cheryl Williams is the VP of Sales and Marketing at Highgate in Hawaii with oversight of 7 hotels including the ‘Alohilani Resort Waikiki Beach. Lisa S. Messina is Caesars Entertainment’s Vice President of Sales in Las Vegas, who is responsible for leading Caesars Entertainment sales strategy for meetings and events globally. Host: Mike Schugt is the President of the Teneo Hospitality Group and founder of Leading North. As a hospitality industry leader within the sales and marketing arena for over 30 years, Mike has been invited to conduct speaking engagements to major brands of global buyers such as Coca-Cola, Hewlett Packard, and Home Depot. As the former Vice President of Sales & Marketing with Hilton Worldwide, where he served for over 10 years, Mike had direct oversight of the Hilton Owned and Managed hotel sales operations for the hotels in the Southeast US, Latin America, and Caribbean. As a graduate of The Pennsylvania State University, Mike delivered the commencement speech to the December 2015 graduating class at the Penn State School of Hospitality Management.
Kartik Sakthivel, CIO of LIMRA discusses change, innovation, and reinvention on our show this week. Connect with Kartik Sakthivel: LinkedIn: https://www.linkedin.com/in/kartiksakthivel Connect with Nassau Re/Imagine: Join Our Incubator Program Website: Imagine.nsre.com Connect with Nassau Re: LinkedIn: Nassau Re Website: NSRE.com
Mark, Will and Paul take a look back at the continued rapid growth of fixed indexed annuity (FIA) sales across the industry. They discuss the recent release of sales results from LIMRA that showed a quarterly 17% jump in FIA sales in in Q2 2019 versus the same period a year ago. They discuss the reasons behind continued growth in our favorite annuity category. Connect with That Annuity Show: Twitter: Facebook: Website: Connect with Nassau Re: LinkedIn: Website: *This podcast is intended for general informational purposes only and is not a solicitation of any insurance product. The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer's needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.
Description: Mark, Will and Paul take a look back at the continued rapid growth of fixed indexed annuity (FIA) sales across the industry. They discuss the recent release of sales results from LIMRA that showed a quarterly 17% jump in FIA sales in Q2 2019 versus the same period a year ago. They discuss the reasons behind continued growth in our favorite annuity category. To read the story referenced, go to: Connect with That Annuity Show: Twitter: Facebook: Website: Connect with Nassau Re: LinkedIn: Website: *This podcast is intended for general informational purposes only and is not a solicitation of any insurance product. The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer's needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.
https://www.youtube.com/watch?v=-2OYfn9u2g0 Locking in your exit strategy with a buy-sell agreement can create great certainty. The reason is that it will accommodate the continuity of your company in the broadest range of circumstances. Planning for your continuation when you or your co-owners exit is critical. It could mean the difference between ownership transition becoming the capstone of your success or a slippery slope to financial demise. Table of contentsBusiness Prenup: Ownership and Control When a Co-Owner ExitsWhat If You Don't Have an Exit Strategy?Tools and Ideas to Plan Your Exit StrategyWhere A Buy-Sell Agreement Fits into the Cash Flow SystemWhy Should I Plan for How I'll Exit?OptionsCertainty and Peace of MindFair BargainingWhat Circumstances Should I Consider?What Are Buy-Sell Agreements?Do I Need a Buy-Sell Agreement?What Are the Options to Fund Buy-Sell Agreements?CashSinking FundA LoanInstallment PaymentsLife InsuranceHow Can A Life Insurance Policy Solve Buy-Sell Funding Problems?Stock RedemptionCross-PurchaseLLC Buy-SellBuy-Sell Agreements: How to Get StartedMultitasking Life Insurance to Indemnify Multiple Threats at OnceAdditional ConsiderationsBuy-Sell Agreements and Infinite BankingGetting Started with Buy-Sell Agreements Business Prenup: Ownership and Control When a Co-Owner Exits If you're in business with others, you may wonder what would happen if something happened to them, or you. What about when or if one of you wants to leave, retires, becomes disabled or physically or mentally unable to continue, or passes away unexpectedly? We've talked about how you can compensate for losing key employees or owners with Key Man Insurance, but what about the ownership interests? Maybe you're the sole business owner at this point, but you hope to sell someday. If your company is built on your reputation, knowledge, and expertise, would a strategic handoff be better than an abrupt ownership change? Perhaps it would be better to hire well as a transition strategy. You might be able to transfer ownership slowly over several years, giving your client base time to build a relationship with the new guy. What If You Don't Have an Exit Strategy? If you share the ownership of a company, your livelihood rests on its success. How do you make sure your family members prosper, no matter what happens to you or your co-owners? Contingency planning is one of those things that so many people put off because it's not an immediate concern. According to LIMRA, in 2015, 75% of US small businesses have not had their market value assessed by a business valuation expert, and 64% of US small companies don't have a business continuation plan. Planning for how you sell or transition can mean the difference between peace of mind or turmoil. When your business operations continue after losing an owner without missing a beat, you and your family will continue experiencing the financial rewards of everything you've built. If the company struggles and suffers, it could mean the inability to fulfill contracts, unhappy clients, and dried up revenue. And this could cause financial strife for you and your family. It's worth thinking this through and planning for contingencies to fully experience the fruit of your labor, no matter when or how you or your business partners exit. Tools and Ideas to Plan Your Exit Strategy In today's show, we discuss the buy-sell agreement – what it is, what it does, and how it works. We'll answer: Why should I plan for how I'll exit my business? Planning for how you'll exit your business allows for the orderly transfer of the ownership interest when a business partner leaves the company. Why should I plan for how I'll exit my business? Planning for how you'll exit your business allows for the orderly transfer of the ownership interest when a business partner leaves the company. What circumstances should I consider in setting up a buy-sell a...
On today's BONUS episode of The F Word, Sheryl Brown is speaking with Amanda Dumas, CLTC, ALMI, ACS with Life Office Management Association (LOMA). As the Member Solutions Manager with LOMA, Amanda works closely with organizations, such as Females and Finance, on their continuing education needs in the financial services community. In today's chat we will discuss: -Why does continuing education matter in financial services? -How do LOMA and LIMRA work together? -Who pursues more designation in 2019? (Stay tuned - the answer might surprise you.) Be sure to connect with Amanda Dumas: LinkedIn: https://www.linkedin.com/in/amanda-m-dumas-cltc-almi-acs-37794411/ Twitter: https://twitter.com/adumasDI Website: https://www.loma.org/ Email: adumas@loma.org
What Employers Need to Know About Paid Family and Medical Leave Management The U.S. does not have a national policy on Paid Family and Medical Leave and so many states are mandating their own laws. The underlying concept may be the same but different states have different rules around PFML. The Hartford's Tom Tipton, VP of Product Management and Chief Medical Officer Dr. Adam Seidner will help explain the difference and what employers need to know. As the largest disability provider in the country_1_, we're delighted to welcome our employers, trusted producers and many other interested listeners to The Line on Leave, the first in our series of podcasts on Paid Family and Medical Leave. Congress passed the Family and Medical Leave Act in 1993 – that guaranteed 12 weeks of leave and job protection to eligible employees. We have a national policy on Family and Medical Leave, but it is still only an unpaid policy. Fast forward to today, and states have been actively mandating PFML. Currently six states –NY, NJ, CA, RI, MA, WA as the DC have PFML laws. About two dozen other states introduced but did not pass legislation this year. We fully expect to see another flurry of PFML legislation in many of those states in 2020. An effective PFML program is more than just wage replacement while an employee is out. States can mandate the rules of eligibility, duration of leave, benefit levels and disburse checks, but are employers really equipped to manage an effective Family and Medical Leave plan? We've been talking a lot about the “family” part of Paid Family and Medical Leave, but let's look at what is needed when an employee goes out with an illness or disability. Questions to ask include: • Is there support to get the employee the resources and care he or she needs for a safe return to work? • Is there advocacy and expertise in the program for ADA accommodations? • Is there referral and coordination of health and wellness programs? An effective Absence Management approach should have these important components: Prevention and Intervention: A prevention and intervention program includes an assessment of the employer's work site, safety and prevention consultations, as well as, help to navigate the health care system. Consultations can help employers develop a Return to Work strategy that may include forming a R2W team and modifying job descriptions based on the ADA and amendments. Claim & Leave Management: It begins with compassionate intake from an experienced, clinical nursing staff with established, streamlined processes that integrate Leave with ADA requirements and Disability claims. Such a process helps eliminates confusion and stress, while helping return employees to productivity swiftly and safely. Reporting & Interpretation: Integrated technology with real-time reporting and claim status updates, and online tools for employees for ease of claims processing and communication. Coordination: There should be an integrative process for managing work and non-work absences, referrals to health and wellness programs and more. You can find this podcast along with future podcasts and additional resources on this topic on The Hartford's Paid Family and Medical Leave page: https://www.thehartford.com/pfml-states. LIMRA 2018 Absence Management / Family Medical Leave Sales and In Force Millennials are the largest generation in the U.S. labor force at 35%, Pew Research Center analysis of U.S. Census Bureau data, April, 2018. The Hartford® is The Hartford Financial Services Group, Inc. and its subsidiaries, including underwriting companies Hartford Life and Accident Insurance Company and Hartford Fire Insurance Company. Home Office is Hartford, CT. © 2019 The Hartford 7506 NS 06-19
In the news - In an "InsuranceNewsNet" article LIMRA predicts that while both income-focused annuity product sales and accumulation-focused annuity product sales will grow in the next five years, accumulation annuity sales will grow at a much faster pace. Mark Will and Paul are back to discuss some of the reason’s annuity sales are on the rise. Mark, Will and Paul emphasize that companies are trying to meet new consumer demands by evolving their products. The evolution of fixed insurance annuities is now considered insurance for a lifetime for consumers who know they will need another form of income when they reach retirement age. We then explore a scenario in which ”John” is trying to determine if he can retire at 65 without a pension and a predicted need for 40K a year for living expenses during retirement. The hosts break down the factors that go into whether or not John can retire including: How much does John have saved? Will 40k be enough to live off of in 30 years? Planning to retire involves several factors, however, annuities are growing more popular with new consumers due to their appealing rates and a demand for a second source of income during retirement. Connect with That Annuity Show: Twitter: Facebook: Website: Connect with Nassau Re: LinkedIn: Website: *This podcast is intended for general informational purposes only and is not a solicitation of any insurance product. The discussion is not meant to provide any legal, tax, or investment advice with respect to the purchase of an insurance product. A comprehensive evaluation of a consumer's needs and financial situation should always occur in order to help determine if an insurance product may be appropriate for each unique situation.
Everyone in employee benefits and HR knows that data matters. On this episode, we talk with insurtech leader and President of Selerix, Lyle Griffin. Lyle shares why the move from legacy EDI feeds to plug-and-play API technology is the future of insurance benefits enrollment and eligibility data. This move helps employers and brokers go from a weekly "fire and forget" model of data exchange to a real-time data synchronization model. Reducing errors and saving time. Lyle also unveils a new data standard known as WBEDX that he has been working on with LIMRA that will be rolled out in early 2020 to the entire industry. To keep up with the WBEDX LIMRA standards progress visit: limra.com For more info on Selerix and to connect with Lyle Griffin visit: https://www.selerix.com/ Lyle Griffin - LinkedIn
Rick Darvis is recognized as one of the leading experts in the financial planning field. He has written several books, developed financial software, and trained financial professionals across the United States. His knowledge has enabled him to be invited to speak on the financial and business development topics to his contemporaries at state CPA and FPA conferences in over 40 states. He has been a featured speaker at the Financial Planner Association's Success Forum, the Northeast /Mid-Atlantic National Association of Personal Financial Advisors (NAPFA) regional conference, the National Employee Benefit Forum, the New York Society of CPAs Personal Financial Planning Conference, and the AICPA's Tax Strategies for the High Income Individual Conference. Rick has also given seminars for the University of Arizona and the New York Student Financial Aid Administrators. Rick's accomplishments in the financial-planning field are: Co-author of Paying for College: Tax Strategies and Financial Aid, a guide published by the American Institute of CPAs on college planning for accountants and financial advisors. Contributing author of Personal Financial Planning, a Practitioners Publishing Company (PPC) guidebook. Co-author of Planning for College Costs, a Practitioners Publishing Company (PPC) guidebook on college financial planning for accountants and financial advisors. Author of A Roadmap to College & Retirement – Without Going Broke, a book designed to link college planning to retirement planning. Provider of education programs and business development services for organizations, such as Microsoft, American Institute of CPAs, Oppenheimer, Western CPE, OneAmerica Insurance, State Farm Insurance, National Association of Personal Financial Advisors, Northwestern Mutual Insurance, Manulife, MFS, American Skandia, Franklin Templeton, Eastern Bank, US Bank, Wells Fargo Financial Advisors, Linsco Private Ledger, Securities America, Genworth, Lincoln Financial, UBS, Thrivent, Wachovia, Smith Barney, John Hancock Financial Network, Legg Mason, Edward Jones, Chase Bank, and Raymond James. Quoted in: Forbes, CNN-FN, Newsweek, U.S. News and World Report, Money, Business Week, Kiplinger's Personal Finance, NY Times, Smart Money, Wall Street Journal, Bloomberg's Personal Finance, Money, Bankrate, Nation's Business, Financial Advisor, Dow Jones Newswire, On Investing, Knight Ridder News, Mutual Fund Market News, Research Magazine, Practical Accountant, Offspring, LIMRA's Market Facts, NAPFA Advisor, and AICPA's Planner. Owned and operated businesses, such as, 6 CPA accounting firms, a national financial planning network with over 2,000 members, 3 restaurants, 3 insurance agencies, a business development contract with Microsoft, commercial rental properties, a farm/ranch operation, a recreation and fitness center, and retail sporting goods stores.
The goal of this episode is to educate you on life insurance – why you need it, the role it can serve in your financial plan, the differences in types, and more. Most importantly, we want to simplify the context of life insurance so you can make an informed decision about your own wealth plan. According to the Life Insurance Market Research Association (LIMRA) and LifeHappens.org, three in five adults have life insurance, but 61 percent know they don’t have enough insurance, but think they can’t afford to buy more. Find out why life insurance is something you seriously need to consider as you evaluate how to navigate your financial future. Questions for our host? Email us at podcast@mainerwealthadvisors.com
Welcome to the second episode of our News Flash series, where we share the latest developments in the blockchain space. For today’s episode we are excited to present returning speaker Christopher McDaniel, president of the RiskBlock Alliance. Chris will guide us through the release of Canopy 2.0, the new version of the RiskBlock Alliance’s blockchain framework, which will run on R3’s Corda Blockchain. RiskBlock Alliance The RiskBlock Alliance, which featured in one of our previous episodes (An Introduction to The RiskBlock Alliance), is an industry-led consortium comprised of insurance carriers, brokers and reinsurers focused on delivering blockchain solutions to the insurance industry. What sets it apart from other insurance consortiums is the fact it’s a not-for-profit organisation sponsored by The Institutes, an educational organisation focusing on the property and casualty space that has been around for over a century. Since its founding last September, the RiskBlock Alliance has expanded significantly. It developed a relationship with LIMRA in the life annuity and retirement space and expects to expand in areas including group benefits and workers’ compensation. The RiskBlock Alliance is built around three aspects. The consortium itself and its members, who are integral in ensuring the RiskBlock Alliance is for the industry and by the industry. Its blockchain framework, Canopy, a standardized set of blockchains that are reusable for many applications. Blockchain applications. The RiskBlock Alliance builds fifteen to twenty application on an annual basis on its Canopy framework. Canopy Before Canopy each company had to create its own blockchain for its applications. If a company decided to build a blockchain application utilising policy information, they created a policy blockchain. Then, if a different company built another application requiring policy information, they had to build a similar blockchain from scratch. The RiskBlock Alliance’s solution to this is Canopy, a framework that makes it easier for companies to experiment with blockchain and create their own solutions. It provides a set of reusable blockchains, such as a policy or a claims blockchain, along with numerous applications that work on these standardized blockchains. Canopy 2.0 Canopy 2.0 will be released in early September, along with a blockchain application for proof of insurance and one for first notice of loss in claims. It aims to become the framework that connects all blockchain applications together. 1. Universal framework Canopy 2.0 will be the first universal version of Canopy. While the RiskBlock Alliance will continue building its own applications, Canopy 2.0 will be an open framework others can build upon. It will have the tools and components to allow others to cooperate with the RiskBlock Alliance and improve the framework by creating applications and expanding the framework itself. In that way Canopy 2.0 can grow beyond the areas it is currently focused on, making it the first true end-to-end blockchain insurance platform. 2. Back office connectivity At the moment a lot of blockchain solutions ignore the problem of connecting back office systems with the blockchain, leading to a gap between blockchain applications and back office data. Canopy 2.0 solves that with its ability to create APIs to connect back office systems with the blockchain. This connectivity does not just make loading data onto the blockchain easier, it also allows members of the consortium to create more flexible use cases. Chris points out that blockchain is not meant to be used as a data warehouse and it is neither easy nor sensible to put every piece of data onto the blockchain. Through these APIs, members will be able to selectively combine data from the blockchain with data from their back office systems in their applications, thereby creating more flexible use cases for all blockchain appl...
Jeff has served as the Executive Director of the Life Insurers Council since March 2008. The LIC is a council of LOMA and also part of LIMRA. The LIC focuses on providing resources to serve the unique needs of smaller life insurance companies. Their mission is to help companies improve performance through shared excellence […]
The idea of changing workplace retirement plan recordkeepers, or going through a "conversion" in retirement plan lingo, can be a daunting and stressful proposition if you are not familiar with the process. If it has been a little while since you changed recordkeepers or if you just never had the pleasure, my conversation today with Tom Dennis, Director and Head of Defined Contribution Implementation Services for John Hancock should be helpful. We tackle head on some of the most common concerns and misperceptions such as the need to make a change on January 1st, how long blackout periods last, what happens to your employees’ money during a conversion and much more! We will also leave you with several strategies to help you take the mystery and stress out of the process so that your upcoming or next record keeping change can dare I say, be as close to seamless as possible! Guest Bio Tom Dennis is Director, Defined Contribution Implementation for John Hancock Retirement Plan Services (JHRPS), a position he held with New York Life Retirement Plan Services, which merged with JHRPS in April 2015. In this role, he is responsible for the oversight, guidance, and support of a team of Project Managers implementing plans onto JHRPS’s mid and large market recordkeeping platform. With 28 years in the retirement industry, Tom provides overall accountability for the successful implementation of new defined contribution qualified and non-qualified plans, and corporate action activity. Prior to joining the JHRPS, he most recently worked as Associate Managing Director of Retirement Research for LIMRA Secure Retirement Institute. Prior to LIMRA, Tom spent 11 years at Fidelity Investments leading large market Implementation and Client Service teams. Tom received a B.A. in Economics from the University of Connecticut, and an M.B.A. from the University of Hartford. Outside of work, he enjoys golf, and is the former President of the Tolland (CT) Soccer Club. 401(k) Fridays Podcast Overview Struggling with a fiduciary issue, looking for strategies to improve employee retirement outcomes or curious about the impact of current events on your workplace retirement plan? We've had conversations with retirement industry leaders to address these and other relevant topics! You can easily explore over eighty five prior on-demand audio interviews here. Don't forget to subscribe as we release a new episode each Friday!
This podcast discusses the study sponsored by the Product Development Section, International Section, Smaller Insurance Company Section, and the Committee for Life Insurance Research. This study examines global product development (PD) practices of life insurance and annuity companies. Performed by LIMRA and RGA, this project consisted of a survey of North American life insurance and annuity companies and examined current insurer PD processes including the evolution of the current strategy; variation of the strategies by company characteristics (e.g., size, life vs. annuity) and region (e.g., United States vs. Canada vs. Other companies); and identified leading PD practices globally. The results of the research can provide the life insurance industry with a resource to help enhance resource management and current processes to better serve the needs of its stakeholders.
HOW CAN INSURANCE HELP ME? This week I sat down with the President & CEO of Low Load Insurance Services, Mark Maurer. Mark joined Low Load Insurance Services (LLIS) in 2003, assumed the role of president in 2008, and CEO in January, 2013. He earned his CFP® designation in 2006, his bachelor’s degree in business and finance from Emory University’s Goizueta Business School in Atlanta, Georgia, and his MBA from University of Florida’s Warrington College of Business. Mark is a member of the National Association of Insurance and Financial Advisors, and a popular speaker for financial organizations including The Alliance of Cambridge Advisors, NAPFA, Garrett Planning Network, LIMRA, LOMA, and Society of Actuaries. He is also a contributing insurance resource to industry publications including Business Week, Bloomberg.com, Forbes, NAPFA Advisor, AMA Physicians’ Guide to Financial Planning, NY Daily News, Jean Chatzky’s Talking Money, and Jane Bryant Quinn’s book, Making the Most of Your Money Now. Here’s WHAT YOU’LL LEARN FROM THIS EPISODE: The biggest misconception people have around insurance The types of insurance you need for your situation Why disability insurance is an important consideration for your family The difference between term and whole life insurance and which is best for you How to streamline the insurance application process for yourself How policies will pay out and how much coverage you need How disability insurance payments are taxed LINKS WE MENTIONED ON THE SHOW: Low Load Insurance Services Mark’s e-mail Schedule a free 30-minute consultation with me Blog posts from the Workable Wealth blog that address insurance: #YOLO: So Don’t Ignore Your Need for Life Insurance Are You Protecting Your Most Valuable Asset?
90 million Americans are uninsured! You may think we’re talking about health insurance, but we’re actually talking about life insurance. According to a recent LIMRA survey, many millions more have inadequate protection. Join Prism Insurance Agency as we share realLifestories provided to us by the nonprofit Life and Health Insurance Foundation for Education. Listen to true stories that illustrates why it’s so important for you to include life insurance in your financial plans.Your family’s financial future is too important to leave to chance. www.myprisminsurance.com/ www.youtube.com/user/PrismInsuranceAgency www.linkedin.com/company/prism-insurance-agency www.twitter.com/prismins www.facebook.com/PrismIns/ http://www.myprisminsurance.com/life/
According to a recent survey by LIMRA, 49% of Americans said they weren’t contributing to any retirement plan on a systematic basis. Join Prism Insurance Agency with the president and CEO of LIMRA, to hear their staggering research statistics on how unprepared Americans are for retirement. If you are one of those people, listen to this discussion and learn how you can get back on track to planning for a secure retirement. www.myprisminsurance.com/ www.youtube.com/user/PrismInsuranceAgency www.linkedin.com/company/prism-insurance-agency www.twitter.com/prismins www.facebook.com/PrismIns/ http://www.myprisminsurance.com/life/
Most adults know the importance of life insurance; after all, one in three households would have immediate trouble paying living expenses if the primary wage earner died, according to the 2016 Insurance Barometer Study by Life Happens and LIMRA. Did you know you can also purchase life insurance for your children? Some insurance agents say purchasing life insurance for your children is a smart financial move, but many financial advisors caution against it. In this DarrasLiving episode, we discuss the common reasons for purchasing life insurance and whether they make sense for your children.
One in three households would have immediate trouble paying living expenses if the primary wage earner died, according to the 2016 Insurance Barometer Study by Life Happens and LIMRA. 85% of survey respondents said most people need life insurance, yet only 62% have coverage. Many people do not purchase life insurance due to misconceptions - they think it's too expensive, it's not right for their needs, or they don't understand the available options. In honor of Life Insurance Awareness Month, this DarrasLiving episode explores five questions to ask before buying life insurance.
Episode Description As the Greek Philosopher Heraclitus said, the only thing that is constant is change. At no time has that statement likely been more accurate about 401(k) plans than where we are today in the retirement market. My guest George Castineiras is the Managing Director of Gibraltar Ventures. He spends his time speaking to and making investments in companies that are shaping what the next several decades of the retirement industry will look like, as a preview things will likely be very different. Our conversation highlights George’s experience focusses specifically on the concepts, trends and topics that employers should start thinking about today and keep an eye on over the next several years. Throughout, as only George can, he provides great examples, insights and predictions that will definitely leave you thinking! Guest Bio George Castineiras is responsible for exploring, developing and investing in transformational ideas and business strategies to power the ambitions of people, institutions, and communities. Prior to leading Gibraltar Ventures, George ran the Total Retirement Solutions business where he oversaw sales, service, operations and product development for Prudential’s defined contribution, defined benefit and nonqualified executive benefit solutions. He joined Prudential in 2002 as head of Western Region Sales and was soon thereafter named senior vice president, National Corporate Sales. Later, he became senior vice president of Client Relations and Business Development for Prudential Retirement’s distribution and key account relationship management teams. He held a similar position with Prudential’s Institutional Income Innovations group. Early in his career, George held sales leadership positions with Metropolitan Life Insurance Company and The Principal Financial Group. He is also the Founder and CEO of Castineiras Ventures, LLC. George has three patents, 10 patents pending and 16 trademarks. George earned an MBA at the MIT Sloan School of Management and a dual bachelor’s degree in finance and economics from Loyola Marymount University. He has completed executive programs at Harvard, University of Michigan, Wharton, NYU, and LIMRA. 401(k) Fridays Podcast Welcome to the 401(k) Fridays Podcast, where employers come to learn and retirement industry leaders come to share their unique stories, experiences and perspectives. My name is Rick Unser, and I am your host. Each episode leverages my nearly two decades of experience as a retirement consultant and features a candid interview with an industry expert to help enhance fiduciary protection, streamline plan operations or improve participant retirement readiness. For more information please visit www.401kfridays.com
Are you one of the many Americans saying ... I don't need insurance; I have insurance on the job; I'm not leaving money for my spouse to spend with someone else; I'm gone what should I care. Studies show that out of people earning $50,000.00 to $250,000.00 a year 52 million Americans do not have life insurance. That does not include individuals below the $50,000.00 income range. (LIMRA). Join the conversation and listen in on Aaron's thoughts about life insurance. Is it a love or a need item.? For an initial complimentary consultation call our office at 1-877-351-2508. Follow us on twitter @Awsmith44. Our website www.awsmithfinancial.com.
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